Quick facts: Addison, TX

Quick Facts

105.2
Cost of Living
above US average
17,310
Population
87.06
Crime Rate per 1000
above US average
$78,153
Median Income
below US average
$480,000
Median House Price
above US average
$1721.19
Average Rent
above US average
7%
Poverty Rate
below US average
4.5%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $78,153.

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Income Needed to Buy

βœ— Stretch
$151k/year
Based on $480,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $151k vs median $78,153
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Income Needed to Rent

βœ“ Affordable
$74k/year
Based on $1721.19/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($78,153) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Addison, TX

Addison, Texas, is a vibrant suburban community located just north of Dallas, known for its dynamic business environment and diverse culture. Covering approximately 4.4 square miles, Addison is home to around 15,000 residents. The town boasts a strong sense of community, characterized by a blend of residential areas, thriving businesses, and lush green spaces. One of Addison's highlights is the Addison Circle, a lively urban area featuring shops, restaurants, and parks. The town is famous for its culinary scene, hosting events like the Addison KaboomTown!, which is a spectacular Fourth of July fireworks celebration. With over 180 restaurants, visitors and locals can enjoy a wide range of dining experiences. Addison is also strategically located near major highways, facilitating easy access to the Dallas-Fort Worth Metroplex. The town is known for its corporate presence, being home to numerous businesses, making it a hub for commerce and employment. With its blend of urban excitement and suburban charm, Addison is an attractive place for families and professionals alike.

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